Vietnam is pledging to import more U.S. goods to reverse perceptions of it unfairly benefiting from the U.S.-China trade war, the Financial Times reported.
In recent talks with a delegation of American diplomats and business figures, Vietnamese officials spoke of importing greater quantities of products including U.S. coal, natural gas, meat, fruit and other agricultural products.
Vietnam’s trade surplus with the U.S., its biggest export market, reached a near-record $39.5 billion last year.
Vietnam has been one of the main beneficiaries of the trade war as it produces many of the same goods hit by new U.S. tariffs targeting China.
The World Bank has observed that Chinese companies, as a result of the trade war with the U.S., are now seeking to shift operations towards Vietnam, Malaysia, Thailand and Cambodia.
Meanwhile, according to the Ministry of Agriculture and Rural Development (MARD), Vietnam will struggle in the short term to export rice, due to obstacles in most major markets, such as China and the Philippines.